Former UK Prime Minister David Cameron, in his keynote address at the Dubai Diamond Conference which just ended, called for business to exhibit greater transparency and strong ethics, ensuring that even the African nations that have hitherto suffered from a ‘resource curse’ get their fair share.
“Responsible capitalism is what I believe in. It’s the next logical step. Big business needs to do far more to deliver a fair economy and environment. Business needs to be fair, open and transparent. This is a big opportunity for industry. You can get ahead of the game by being in favour of ethical behaviour,” Cameron said.
He added, “We need to expand transparency across the globe. Many African countries have suffered from a resource curse, and I believe we have to help countries to make the right choices and spread their wealth among their people. That is the responsibility of us all.”
The official launch of the Nemesis International diamond cutting and polishing factory started off Day 2 of the conference. The facility further solidifies Dubai’s place in the diamond process pipeline. "We now have the complete package, or one-stop shop," said DMCC Executive Chairman Ahmed Bin Sulayem. He added, "Dubai has become a major importer of rough diamonds which can now be cut and polished by master craftsmen. This joins the world-class facilities that the Almas Tower offers, including customs, insurance, banking, a Kimberley Process office, and international tenders of a wide range of rough diamonds."
Meanwhile, Christie's displayed the 163.41-carat emerald-cut diamond owned by the Geneva-based luxury jeweller, De Grisogono. The auction house said it is the largest D-colour flawless diamond to ever come to auction and will be offered for sale on November 14 as a highlight of Christie’s Magnificent Jewels sale in Geneva. The diamond, cut from a 404-carat rough discovered in February 2016 in the Lulo mine in Angola, was displayed at the conference as part of a world tour.